Karen Jones, Certified PYT (Protect Your Transaction) Home Loan Specialist is proud to announce the new way of preparing for a home loan.  Have you ever wanted to be sure that your home loan was going to be accepted prior to purchasing your new home?  If yes, then PYT is the program for you.

So what is Protect Your Transaction?  What is PYT?  PYT is a service that will be changing the real estate industry, one loan at a time.

Protect Your Transaction provides all parties to a real estate transaction with peace of mind that the Lender will deliver on its commitment to close on time. Take a moment to learn more about PYT^SM in this article, and then ask the obvious question:

“Why would I use a lender that doesn’t provide a PYT Commitment?”

Certified PYT Lenders commit to the following:

*  Lender will issue a loan commitment on or before 15 days from receiving a complete mortgage application (for eligible, approved applications) evidencing Lender’s commitment to close on time

*  Lender will pay up to $10,000 in the event a transaction is cancelled by Seller due to Lender’s failure to fulfill the terms of the loan commitment

Why PYT Was Created?

When real estate is bought and sold, both the Buyers and Sellers rely on a Lender Pre-Approval before committing to open escrow.  The Buyers incurs certain up-front expenses (including inspection, appraisal, and HOA certification fees).  These expenses may exceed $1000 in total.  The Sellers will also incur out of pocket expenses, as they are already making plans to buy their new home once their existing home sells. Additionally, the Real Estate Agents on both sides of the transaction continue to expend significant effort, providing their professional advice and ensuring that their respective clients’ interests are protected throughout the transaction.

Essentially, all parties need to have confidence that this sale will indeed happen.  Prior to the inception of PYT, if the Lender failed to fulfill its offer to lend, the lender was not financially responsible. A Certified PYT lender puts its money where its mouth is, giving all parties a firm commitment and assurance that the transaction will close as expected!

Have you ever heard of a Lender putting up to $10,000 of real money to back up its loan commitment?

Have you ever worked with a Lender who will give you transparent online information as to where a Borrower is in the loan process? With PYT, you now have this peace of mind!

 

How PYT Benefits Real Estate Agents

Real Estate Agents have a fiduciary duty to obtain the best price and terms for their clients. In a competitive bidding situation, more than just the offered price will be considered by the Seller; the terms and conditions of the offer make a material difference in determining the “best” offer. Real Estate Agents should recommend a Certified PYT Lender to ensure the strongest possible offer – not just in price, but in probability of closing.
How PYT Benefits Buyers

As a Buyer, you should know that Sellers frequently receive multiple offers on their home.  The Sellers of your potential new home are typically purchasing a new home for themselves and may base their decision as to which offer to accept on whom they believe is most likely to perform (i.e. close escrow on time).  Presenting your purchase offer with a PYT commitment will assure the Seller that your creditworthiness already been approved by your Lender and that your Lender is willing to back that approval with up to a $10,000 performance assurance.

 

How PYT Benefits Sellers 

The biggest transaction risks a Seller faces are the Buyer’s ability to obtain a loan approval and the Lender’s ability to close on time. Any failure or delay in this process can jeopardize not only the immediate transaction, but also the Seller’s subsequent purchase. A CertifiedPYT Lender reduces those risks by providing a decision within 15 days of taking an application from the Buyer and by backing its commitment to lend with up to a $10,000 performance assurance. If you are a Seller with a new home purchase contingent on the sale of your existing home, make sure you are selling your home to a Buyer with aPYT loan commitment!

I encourage you today to contact a PYT certified lender. Start the home buying and home selling process from a position of strength knowing PYT is behind you.

After all – It’s your transaction make sure it’s protected.

How do I get started with the PYT process?
Please feel free to contact Karen Jones, a PYT Certified Mortgage Loan Officer at AmeriFirst Financial, Inc.  Karen Jones, a Licensed and Certified PYT Mortgage Loan Officer, will guide you through the steps and ensure that your loan package is properly prepared.  Once your PYT Home Loan is credit approved, then you can shop with confidence knowing you have a Home Loan….now you just need to find that perfect home.

Where can I read the “fine print” about PYT?
For more information, please visit www.ProtectYourTransaction.com
Finally there is a Lender who is willing to put its money where its mouth is!

P.S.  Not all loan officers are PYT Certified.  Therefore, as you research your choices of loan officers, be sure to ask about the PYT Certification.

If you need a referral to a trained PYT Realtor, Karen Jones, Certified Home Loan Officer would be happy to make introductions for you.

“Buying a home today is an extremely detailed process and having your home loan ready upfront removes unnecessary stress which allows your home buying process to be more enjoyable.”

Look for a Realtor with who is PYT Certified.  Contact Karen Jones and she’ll recommend some of the best around!